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5h ago

Standard Chartered Sticks With $7,500 Ether Target as ETFs and Treasuries Tighten Supply

ETF buying accelerated on the pullback, reinforcing the bank’s buy-the-dip view.

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Overview

  • Since June, ETH treasury firms bought about 2.6% of supply and spot ETFs added roughly 2.3%, taking a combined 4.9% off the market.
  • Ether set a new record near $4,953–$4,955 on Aug. 24 before sliding roughly 10–11% in subsequent sessions.
  • ETH ETFs drew about $444 million on Monday, including approximately $315 million into BlackRock’s ETHA, outpacing roughly $219 million for Bitcoin funds.
  • Standard Chartered’s Geoffrey Kendrick reiterates a $7,500 year-end price target and calls the pullback a great entry point, projecting treasury ownership could reach around 10%.
  • ETH treasury stocks trade at NAV discounts versus MSTR despite ~3% staking yields, with SharpLink pledging buybacks below a 1.0 multiple that Kendrick says creates a valuation floor.